Internation Monetary Economics

1. Course Syllabus
1. Course code: 2942412
2. Course credits: 3
3. Course title: International Monetary Economics
4. Faculty: Economics
5. Semester: Second Semester
6. Year: 2012
7. Lecturer: Phornchanok Cumperayot Kouwenberg (Ph.D.)
Office Hours: Thursday 11.00 - 12.30, or by appointment
Office: 313/1
Contact address: Phornchanok.C@Chula.ac.th
8. Prerequisites: International Economics (2942307) or
Economics of Money and Financial Markets (2944310)
9. Course status: Elective course
10. Programs: Bachelor of Economics Program
11. Degree: Bachelor of Economics (B.Econ)
12. Time: Thursday, 13.00 – 16.00
Venue: Mahit Bld., 711
13. Course Description:
In this course, we focus on the exchange rate, and macroeconomic factors and
institutions that influence the exchange rate movement. Step by step, students
will learn about components that build up the exchange rate models. From the
theoretical macroeconomic models, we then proceed to apply our knowledge
to a range of current and historical issues. Also we analyze the impact on the
exchange rate of temporary and permanent macroeconomic policies and
exogenous shocks, and discuss about the exchange rate catastrophes.

2. 2
14. Course Outline:
14.1 Aim of the course:
This course is designed to blend together economic theories from textbooks
and actual economic issues we observe in real life. After this course, students
are expected to have sufficient and solid background on international
monetary economics to enjoy, understand and be critical, while exploring
international monetary news.
14.2 Course Contents and Course Schedule:
Date Course Content
25/10/12 Overview of the Course and National Income Accounts (#13)
1/11/12 National Income Accounting and the Balance of Payments (#13)
8/11/12 Exchange Rates and the Foreign Exchange Market (#14)
15/11/12 No Class
22/11/12 Demand for Foreign Currency Assets (#14)
29/11/12 Asset Approach Exchange Rate Model: Interest Parity (#14)
6/12/12 Money and Interest Rates (#15)
13/12/12
(12.30 – 15.30)
Money, Interest Rates and Exchange Rates (#15)
20/12/12 No Class
26/12/12 Midterm Exam

3. 3
Date Course Content
3/1/13 Money, Interest Rates, Exchange Rates and Inflation Targeting (#15)
10/1/13 No Class
17/1/13 Long Run Exchange Rate Model: Purchasing Power Parity (#16)
24/1/13 Long Run Exchange Rate Model: Real Exchange Rate (#16)
31/1/13 Short Run Exchange Rate Model (#17)
7/2/13 Temporary and Permanent Macroeconomic Policies (#17)
14/2/13 Fixed Exchange Rates and Central Bank Intervention (#18)
21/2/13 Economies under Fixed and Managed Floating Exchange Rates (#18)
6/3/13 Final Exam
14.3 Teaching Methods:
Lecture (60%)
Discussion on assigned readings and current economic issues (15%)
Brainstorming to solve problems given in class (25%)
14.4 Learning Outcomes: Critical thinking and analytical skills
14.5 Media: PowerPoint presentation and Websites
14.6 Evaluation: Midterm examination: 50%
Final examination: 50%
Exams: Midterm exam will be on 26 December 2012, 13.00 – 16.00.
Final exam will be on 6 March 2013, 8.30 – 11.30.

4. 4
15. Readings:
PowerPoint Handouts
Articles, e.g., from newspapers or the Economist
Krugman, P.R., and M. Obstfeld, 2012, International Economics: Theory and
Policy, 9th
Edition, Pearson International Edition.